The alcoholic beverage industry is witnessing a new trend in the market, with agave-based alcohols like tequila and mezcal predicted to top whiskey and even vodka in sales. According to IWSR Drinks Market Analysis, tequila and mezcal are expected to become the most purchased spirit by 2023 with a combined value of $13.3 billion.
Handmade and artisanal brands such as Casamigos, Clase Azul, and Piedra Azul have been the fastest-growing tequila brands between 2016 and 2021. Celebrity brands like Casamigos and Kendall Jenner's 818 have also boosted the growth of the tequila market. Market research by Passport Destilados suggests that consumers are drawn to the connection to traditional methods and the historical narrative of agave-based spirits.
Mezcal sales grew by 53 percent from 2020 to 2021, and tequila grew by 27 percent in the same time frame. Both are expected to continue their growth, with a combined value increase of 81 percent from 2021 to 2026.
What's driving the success of agave-based alcohol? It could be the trend towards artisanal and handmade products or the cultural and historical significance of these spirits. Regardless of the reason, agave-based alcohol is poised for continued success and growth in the coming years.
We are excited to be a part of this growth and success, as we focus on artisanal and handmade products with strong connections to traditional methods and cultural narratives.
Raise a glass to the future of agave-based spirits!